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Gold/Mining/Energy : Eaglewood Energy spuds Ubuntu-1 well on PPL 259 licence
EWD 28.36-1.1%Oct 8 1:37 PM EDT

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From: bcjt12/30/2010 10:01:44 AM
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Eaglewood Energy closes $10.12-million financing

2010-12-17 08:10 MT - News Release

Mr. Brad Hurtubise reports


Eaglewood Energy Inc. has closed its previously announced short form prospectus offering raising gross proceeds of $10,125,000. The offering was lead by FirstEnergy Capital Corp., and included a syndicate of underwriters consisting of Cormark Securities Inc., Macquarie Capital Markets Canada Ltd. and Paradigm Capital Inc. A total of 13.5 million common shares of the corporation were issued at a price of 75 cents per common share.

The proceeds of the offering are expected to be used for the location, drilling and demobilization costs in the corporation's PPL 259 program in furtherance of its exploration and development plans.

We seek Safe Harbor.
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